Howden Re, a part of global insurer Howden, has secured a full reinsurance licence from the Dubai Financial Services Authority (DFSA) to conduct its business within Dubai International Financial Centre (DIFC).
The licence will enable the company to extend its existing broking services, with an emphasis on treaty, facultative and managing general agent (MGA) reinsurance.
The Dubai operations will be jointly led by Julian Samengo-Turner, head of IMEA (India, Middle East and Africa), who will continue to manage Fac and MGA broking, alongside Attilio Tornetta, the newly appointed head of Treaty & Regional Retro for MEA.
Additionally, Sheena Kotecha, head of operations IMEA, has been promoted to the position of senior executive officer to ensure Howden Re adheres to regulatory and governance standards.
Tornetta, who became managing director for the Middle East and Africa (MEA) at Howden Re in 2023, will concentrate on enhancing the company’s treaty offerings and broadening its presence throughout the MEA.
Howden Re International Growth Markets head Mario Baotic said: ”We appreciate DIFC’s ongoing confidence in Howden and their partnership in enabling our growth through this licence.
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By GlobalData“This development clearly demonstrates Howden Re’s continued international expansion, our ambition to deepen our regional presence and our commitment to delivering exceptional value to our clients globally. It marks a significant step forward in strengthening our global footprint and reinforcing our long-term strategy in key markets.”
In June, Howden secured the necessary regulatory consents to initiate reinsurance activities in the kingdom of Saudi Arabia.
Additionally, Howden Re strengthened its footprint in South Africa under Gary Ankorn’s leadership and enhanced its operations in India, with Minesh Jani, head of Reinsurance India, at the helm.
